Business and Finance

List of Nigerian Banks that charge zero transfer fees

Many banks and payment platforms impose transfer fees on their transactions, but this is an exception for some other banks, such as; Opay, Palmpay, Kuda, and several other financial institutions. These institutions understand the changing demands of digital payments and strive to provide users with a seamless and cost-effective experience.

List of Nigerian Banks that charge zero transfer fees

In this dynamic and competitive market, exploring alternatives to traditional banking becomes crucial for maximizing financial resources and enjoying the benefits of seamless, affordable transactions. Let’s delve into exploring the list of Nigerian banks that charge zero transfer fees.


Opay, a prominent player in the digital payment and financial services sector, offers a wide range of services with zero transfer fees. Users can send and receive money, pay bills, purchase airtime, and engage in various financial activities without incurring additional charges. Opay’s user-friendly mobile application ensures secure and efficient transactions, emphasizing user convenience and affordability.


Palmpay is a comprehensive digital payment platform offering various financial services, with a commitment to zero transfer fees. Users can send money to other Palmpay users without incurring additional charges. The user-friendly mobile application enhances security through encryption protocols and multi-factor authentication, ensuring users’ financial information remains protected.

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Kuda Bank

Kuda Bank aims to revolutionize traditional banking by offering a customer-centric platform with zero transfer fees. Users can enjoy fee-free interbank transfers, transfers to other Kuda Bank accounts, and more. The mobile app provides real-time transaction notifications, detailed spending insights, budgeting tools, and the ability to save and earn interest on deposits. By eliminating transfer fees, Kuda Bank ensures cost-effective transfers and a seamless digital banking experience.


Rubies is a leading mobile payment platform offering a wide range of financial services, including zero transfer fees. The user-friendly mobile app provides an intuitive interface for easy navigation. Rubies allows users to send money to other Rubies users without additional charges, making it an economical solution for digital transfers. Security and privacy are top priorities, with advanced encryption technologies and stringent authentication protocols in place.


Paga, a renowned mobile payment platform in Nigeria, empowers users with the ability to send and receive money, pay bills, and make purchases. As part of its commitment to affordability, Paga offers zero transfer fees on transactions between Paga users. The user-friendly platform promotes financial inclusion and accessibility while prioritizing security through encryption and secure authentication methods.


Moniepoint is a digital payment platform offering money transfers, bill payments, and more, with the advantage of zero transfer fees. Users can send money to other Moniepoint users without incurring additional costs, making it an economical and efficient option for digital transactions. The user-friendly mobile application simplifies financial transactions and promotes efficient money management.


Eyowo, a Nigerian fintech company, offers payment solutions and a mobile wallet with a flat rate charge of N10 on all transactions. While not completely fee-free, Eyowo’s transparent and affordable pricing structure contributes to cost-effective digital transactions.

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These platforms have recognized the importance of offering zero transfer fees to their users. By doing so, they promote financial inclusivity, encourage the adoption of digital payments, and provide cost-effective solutions for individuals and businesses alike. In a world where every penny matters, these institutions empower users to make the most of their financial resources.


Which bank has the lowest charges in Nigeria?

When it comes to low banking charges in Nigeria, Guaranty Trust Bank (GTBank) is a standout choice. Renowned for its customer-centric approach and innovative services, GTBank offers competitive fees that can help customers save money over time. Notably, the bank is known for its low transaction fees, which can make banking more cost-effective for its customers. GTBank’s commitment to providing value for its customers through its fee structure makes it a strong contender for those seeking a bank with the lowest charges in Nigeria. However, it’s essential to verify the latest fee schedules and terms with the bank, as these may be subject to change.

Is transfer free on OPay?

Yes, transferring money from your OPay wallet to other bank accounts is typically free, making it a cost-effective way to send funds in Nigeria. OPay offers this service as part of its financial inclusion efforts, allowing users to add money to their wallets and then transfer it to various bank accounts at no additional charge. Furthermore, OPay provides bonuses on airtime and data top-ups, as well as convenient bill payment options, all without extra fees. This makes OPay a convenient and economical choice for individuals looking for a mobile money platform in Nigeria that offers free fund transfers and various financial services. Please note that fee structures may be subject to change, so it’s advisable to check the latest terms and conditions with OPay.

What is a zero transaction fee?

A zero transaction fee, often referred to as “zero-fee,” is a payment processing method that eliminates any charges or fees typically associated with financial transactions. In this context, it involves using a bank-to-bank network that operates without imposing operational fees. This network securely and efficiently facilitates recurring payments without the need for credit cards. Zero-fee transactions allow customers to be directly charged for services or products without incurring any additional costs, making it a cost-effective and convenient payment solution. This method is particularly beneficial for businesses and customers looking to minimize transaction-related expenses while ensuring the security and reliability of their payments.

Which bank is one of the best bank in Nigeria?

Zenith Bank Plc is widely regarded as one of the best banks in Nigeria, consistently earning accolades and recognition for its financial strength and performance. In the 2023 Top 1000 World Banks’ Rankings by The Banker Magazine, Zenith Bank was ranked as the Number One Bank in Nigeria based on its Tier-1 Capital. This prestigious ranking reflects the bank’s stability, capital strength, and overall financial health. Zenith Bank’s commitment to providing excellent banking services, innovative products, and a strong presence in the Nigerian financial market solidifies its reputation as one of the top and most trusted banks in the country.

Which online bank has free transfers in Nigeria?

Kuda Bank, an online bank in Nigeria, offers a noteworthy feature of providing 25 free transfers to other banks every month for its account holders. This benefit translates to potential annual savings of up to 15,000 naira. Additionally, Kuda Bank simplifies the transfer process by allowing customers to send money without needing an account number. Through a payment link, users can facilitate faster transfers to anyone with a smartphone, enhancing convenience for both the sender and recipient. Kuda Bank’s commitment to providing free transfers and innovative payment options makes it an attractive choice for individuals seeking cost-effective and user-friendly online banking services in Nigeria.


The shift towards zero transfer fees by innovative financial institutions like Opay, Palmpay, Kuda Bank, Rubies, Paga, Moniepoint, and Eyowo demonstrates their commitment to affordability and convenience. By eliminating transfer fees, they empower users to conduct transactions more efficiently and economically, fostering financial inclusivity and accessibility in the digital age.

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